VONV vs. HLAL ETF Comparison

Comparison of Vanguard Russell 1000 Value ETF (VONV) to Wahed FTSE USA Shariah ETF (HLAL)

VONV

Vanguard Russell 1000 Value ETF

VONV Description

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States. The fund employs an indexing investment approach designed to track the performance of the Russell 1000® Value Index. The index is designed to measure the performance of large-capitalization value stocks in the United States. It attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Grade (RS Rating)

Last Trade

$86.79

Average Daily Volume

372,062

Number of Holdings ^*

842

* may have additional holdings in another (foreign) market

HLAL

Wahed FTSE USA Shariah ETF

HLAL Description

The investment seeks to track the total return performance, before fees and expenses, of the FTSE USA Shariah Index. The index is composed of common stocks of large and mid-capitalization U.S. companies the characteristics of which meet the requirements of the Shariah and are consistent with Islamic principles as interpreted by subject-matter experts. Under normal circumstances, at least 80% of its total assets will be invested in the component securities of the index. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$52.60

Average Daily Volume

60,755

Number of Holdings ^*

198

* may have additional holdings in another (foreign) market

Performance

Period	VONV	HLAL
30 Days	3.51%	2.35%
60 Days	4.96%	1.62%
90 Days	7.00%	3.31%
12 Months	29.73%	20.13%

166 Overlapping Holdings

	Symbol	Grade	Weight in VONV	Weight in HLAL	Overlap
	A	D	0.15%	0.17%	0.15%
	ABT	B	0.78%	0.9%	0.78%
	ADI	D	0.44%	0.47%	0.44%
	ADM	D	0.11%	0.11%	0.11%
	ADP	B	0.03%	0.55%	0.03%
	AGR	B	0.01%	0.01%	0.01%
	AKAM	D	0.06%	0.06%	0.06%
	ALB	C	0.04%	0.06%	0.04%
	ALGN	D	0.03%	0.08%	0.03%
	AMAT	F	0.05%	0.63%	0.05%
	AMD	F	0.32%	0.99%	0.32%
	ANSS	B	0.11%	0.13%	0.11%
	APD	A	0.28%	0.33%	0.28%
	APTV	D	0.06%	0.06%	0.06%
	ARE	D	0.08%	0.08%	0.08%
	ATO	A	0.08%	0.1%	0.08%
	BDX	F	0.27%	0.29%	0.27%
	BG	F	0.05%	0.06%	0.05%
	BIIB	F	0.1%	0.1%	0.1%
	BKR	B	0.15%	0.2%	0.15%
	BLDR	D	0.07%	0.09%	0.07%
	BMRN	D	0.05%	0.05%	0.05%
	BSX	B	0.49%	0.6%	0.49%
	CAH	B	0.04%	0.13%	0.04%
	CARR	D	0.2%	0.28%	0.2%
	CEG	D	0.28%	0.33%	0.28%
	CF	B	0.06%	0.07%	0.06%
	CHD	B	0.1%	0.12%	0.1%
	CMI	A	0.18%	0.22%	0.18%
	COP	C	0.51%	0.6%	0.51%
	CRL	C	0.04%	0.04%	0.04%
	CRM	B	0.17%	1.36%	0.17%
	CSCO	B	0.89%	1.04%	0.89%
	CTAS	B	0.01%	0.34%	0.01%
	CTVA	C	0.17%	0.18%	0.17%
	CVX	A	1.03%	1.24%	1.03%
	DAL	C	0.15%	0.05%	0.05%
	DD	D	0.14%	0.15%	0.14%
	DELL	C	0.11%	0.16%	0.11%
	DGX	A	0.07%	0.08%	0.07%
	DHI	D	0.2%	0.22%	0.2%
	DHR	F	0.63%	0.67%	0.63%
	DLTR	F	0.05%	0.06%	0.05%
	DOV	A	0.1%	0.12%	0.1%
	DOW	F	0.14%	0.12%	0.12%
	DVN	F	0.1%	0.11%	0.1%
	EA	A	0.16%	0.2%	0.16%
	EBAY	D	0.12%	0.14%	0.12%
	EL	F	0.04%	0.07%	0.04%
	EMR	A	0.25%	0.33%	0.25%
	EW	C	0.13%	0.19%	0.13%
	EXPD	D	0.06%	0.08%	0.06%
	FANG	D	0.13%	0.15%	0.13%
	FAST	B	0.03%	0.21%	0.03%
	FDX	B	0.25%	0.29%	0.25%
	FFIV	B	0.05%	0.06%	0.05%
	FSLR	F	0.08%	0.09%	0.08%
	FTV	C	0.1%	0.12%	0.1%
	GEHC	F	0.14%	0.17%	0.14%
	GEV	B	0.33%	0.41%	0.33%
	GFS	C	0.01%	0.02%	0.01%
	GLW	B	0.15%	0.16%	0.15%
	GPC	D	0.06%	0.08%	0.06%
	GRMN	B	0.12%	0.14%	0.12%
	GWW	B	0.02%	0.22%	0.02%
	HAL	C	0.1%	0.12%	0.1%
	HES	B	0.05%	0.19%	0.05%
	HOLX	D	0.07%	0.08%	0.07%
	HPQ	B	0.11%	0.16%	0.11%
	HUBB	B	0.09%	0.11%	0.09%
	IEX	B	0.07%	0.08%	0.07%
	IFF	D	0.1%	0.1%	0.1%
	ILMN	D	0.09%	0.09%	0.09%
	INTC	D	0.37%	0.46%	0.37%
	IP	B	0.08%	0.07%	0.07%
	IPG	D	0.04%	0.05%	0.04%
	IR	B	0.15%	0.19%	0.15%
	JBHT	C	0.06%	0.07%	0.06%
	JCI	C	0.17%	0.25%	0.17%
	JNJ	D	1.54%	1.65%	1.54%
	JNPR	F	0.05%	0.05%	0.05%
	KDP	D	0.15%	0.15%	0.15%
	KO	D	0.43%	1.1%	0.43%
	KVUE	A	0.18%	0.2%	0.18%
	LEN	D	0.16%	0.0%	0.0%
	LEN	D	0.01%	0.0%	0.0%
	LEN	D	0.16%	0.18%	0.16%
	LEN	D	0.01%	0.18%	0.01%
	LH	C	0.08%	0.09%	0.08%
	LIN	D	0.88%	0.97%	0.88%
	LKQ	D	0.04%	0.04%	0.04%
	LUV	C	0.07%	0.02%	0.02%
	LYB	F	0.09%	0.1%	0.09%
	MCK	B	0.15%	0.36%	0.15%
	MDLZ	F	0.37%	0.39%	0.37%
	MDT	D	0.46%	0.49%	0.46%
	MKC	D	0.08%	0.09%	0.08%
	MLM	B	0.14%	0.16%	0.14%
	MMM	D	0.23%	0.32%	0.23%
	MPC	D	0.21%	0.25%	0.21%
	MRO	B	0.06%	0.07%	0.06%
	MRVL	B	0.25%	0.35%	0.25%
	MU	D	0.44%	0.49%	0.44%
	NEM	D	0.21%	0.22%	0.21%
	NKE	D	0.14%	0.4%	0.14%
	NTAP	C	0.05%	0.11%	0.05%
	NUE	C	0.14%	0.16%	0.14%
	NWS	B	0.01%	0.02%	0.01%
	NWSA	B	0.04%	0.05%	0.04%
	OKTA	C	0.03%	0.05%	0.03%
	OMC	C	0.08%	0.09%	0.08%
	ON	D	0.12%	0.13%	0.12%
	OXY	D	0.13%	0.15%	0.13%
	PCAR	B	0.21%	0.25%	0.21%
	PFE	D	0.64%	0.63%	0.63%
	PG	A	1.21%	1.81%	1.21%
	PHM	D	0.11%	0.12%	0.11%
	PKG	A	0.08%	0.1%	0.08%
	PLD	D	0.42%	0.48%	0.42%
	PNR	A	0.07%	0.08%	0.07%
	PPG	F	0.12%	0.13%	0.12%
	PSX	C	0.2%	0.25%	0.2%
	PTC	A	0.03%	0.1%	0.03%
	PWR	A	0.12%	0.22%	0.12%
	QCOM	F	0.05%	0.77%	0.05%
	QRVO	F	0.03%	0.03%	0.03%
	REG	B	0.05%	0.06%	0.05%
	REGN	F	0.32%	0.35%	0.32%
	RMD	C	0.1%	0.16%	0.1%
	ROK	B	0.11%	0.14%	0.11%
	ROP	B	0.23%	0.26%	0.23%
	ROST	C	0.14%	0.21%	0.14%
	RVTY	F	0.06%	0.06%	0.06%
	SLB	C	0.23%	0.28%	0.23%
	SNA	A	0.07%	0.08%	0.07%
	STE	F	0.09%	0.09%	0.09%
	STLD	B	0.08%	0.1%	0.08%
	SWK	D	0.06%	0.06%	0.06%
	SYK	C	0.36%	0.63%	0.36%
	TECH	D	0.05%	0.05%	0.05%
	TER	D	0.01%	0.07%	0.01%
	TFX	F	0.04%	0.04%	0.04%
	TJX	A	0.21%	0.61%	0.21%
	TMO	F	0.84%	0.87%	0.84%
	TRMB	B	0.06%	0.08%	0.06%
	TT	A	0.22%	0.42%	0.22%
	TTWO	A	0.11%	0.14%	0.11%
	TXN	C	0.65%	0.81%	0.65%
	TYL	B	0.02%	0.11%	0.02%
	UAL	A	0.1%	0.03%	0.03%
	ULTA	F	0.01%	0.07%	0.01%
	UPS	C	0.39%	0.43%	0.39%
	VLO	C	0.17%	0.2%	0.17%
	VLTO	D	0.06%	0.12%	0.06%
	VMC	B	0.11%	0.16%	0.11%
	WAB	B	0.13%	0.15%	0.13%
	WBA	F	0.03%	0.03%	0.03%
	WDC	D	0.09%	0.09%	0.09%
	WELL	A	0.33%	0.37%	0.33%
	WLK	D	0.02%	0.02%	0.02%
	WST	C	0.04%	0.1%	0.04%
	WY	D	0.09%	0.1%	0.09%
	XOM	B	2.1%	2.42%	2.1%
	XYL	D	0.12%	0.13%	0.12%
	ZBH	C	0.09%	0.1%	0.09%
	ZBRA	B	0.06%	0.09%	0.06%

VONV Overweight 678 Positions Relative to HLAL

	Symbol	Grade	Weight
	BRK.A	B	3.3%
	JPM	A	2.55%
	UNH	C	1.94%
	WMT	A	1.42%
	BAC	A	1.14%
	WFC	A	0.91%
	ACN	C	0.87%
	PM	B	0.83%
	ABBV	D	0.82%
	MCD	D	0.79%
	IBM	C	0.76%
	DIS	B	0.71%
	VZ	C	0.71%
	CMCSA	B	0.67%
	T	A	0.65%
	NEE	D	0.65%
	RTX	C	0.64%
	CAT	B	0.63%
	LOW	D	0.6%
	SPGI	C	0.6%
	GE	D	0.59%
	BLK	C	0.58%
	ETN	A	0.53%
	MS	A	0.51%
	C	A	0.49%
	GS	A	0.48%
	CB	C	0.46%
	BMY	B	0.45%
	HON	B	0.45%
	GILD	C	0.44%
	TMUS	B	0.43%
	DE	A	0.41%
	SO	D	0.4%
	AXP	A	0.38%
	SCHW	B	0.38%
	MMC	B	0.37%
	MO	A	0.37%
	DUK	C	0.36%
	ICE	C	0.35%
	BA	F	0.34%
	EQIX	A	0.33%
	HD	A	0.32%
	ELV	F	0.32%
	LMT	D	0.32%
	GD	F	0.32%
	CI	F	0.32%
	CME	A	0.32%
	PYPL	B	0.32%
	PH	A	0.32%
	FI	A	0.31%
	UNP	C	0.3%
	PNC	B	0.3%
	USB	A	0.3%
	CVS	D	0.29%
	AON	A	0.29%
	TGT	F	0.28%
	EOG	A	0.28%
	NOC	D	0.28%
	KKR	A	0.27%
	FCX	D	0.26%
	CSX	B	0.26%
	VRTX	F	0.25%
	COF	B	0.25%
	WMB	A	0.25%
	MAR	B	0.24%
	AJG	B	0.23%
	OKE	A	0.23%
	NSC	B	0.23%
	TDG	D	0.23%
	GM	B	0.23%
	TFC	A	0.23%
	DLR	B	0.23%
	AFL	B	0.23%
	BK	A	0.22%
	TRV	B	0.22%
	O	D	0.21%
	AEP	D	0.21%
	SRE	A	0.21%
	AIG	B	0.2%
	D	C	0.2%
	FIS	C	0.2%
	HCA	F	0.2%
	CCI	D	0.19%
	LHX	C	0.19%
	KMI	A	0.19%
	PEP	F	0.19%
	ITW	B	0.19%
	PRU	A	0.18%
	PSA	D	0.18%
	PEG	A	0.18%
	MET	A	0.18%
	ALL	A	0.17%
	AME	A	0.17%
	PCG	A	0.17%
	MSI	B	0.16%
	MCHP	D	0.16%
	EXC	C	0.16%
	OTIS	C	0.16%
	CBRE	B	0.16%
	F	C	0.16%
	RSG	A	0.16%
	SPG	B	0.16%
	URI	B	0.16%
	KR	B	0.15%
	STZ	D	0.15%
	DFS	B	0.15%
	CTSH	B	0.15%
	XEL	A	0.15%
	HWM	A	0.15%
	AMGN	D	0.15%
	GIS	D	0.15%
	EXR	D	0.14%
	CL	D	0.14%
	ED	D	0.14%
	ACGL	D	0.14%
	MSTR	C	0.14%
	EIX	B	0.13%
	AVB	B	0.13%
	RCL	A	0.13%
	HIG	B	0.13%
	MTB	A	0.13%
	CNC	D	0.13%
	IQV	D	0.13%
	ETR	B	0.13%
	APH	A	0.13%
	VICI	C	0.13%
	CSGP	D	0.12%
	KHC	F	0.12%
	FITB	A	0.12%
	WEC	A	0.12%
	NDAQ	A	0.12%
	CHTR	C	0.12%
	WTW	B	0.12%
	HUM	C	0.12%
	GPN	B	0.11%
	VTR	C	0.11%
	EQR	B	0.11%
	KMB	D	0.11%
	SW	A	0.11%
	AWK	D	0.11%
	MTD	D	0.11%
	STT	A	0.11%
	RJF	A	0.11%
	HLT	A	0.11%
	PAYX	C	0.11%
	PPL	B	0.1%
	FE	C	0.1%
	TROW	B	0.1%
	SBAC	D	0.1%
	LDOS	C	0.1%
	SBUX	A	0.1%
	HPE	B	0.1%
	NVR	D	0.1%
	DTE	C	0.1%
	KEYS	A	0.1%
	EFX	F	0.1%
	LNG	B	0.09%
	CINF	A	0.09%
	SYF	B	0.09%
	RF	A	0.09%
	CCL	B	0.09%
	HSY	F	0.09%
	PGR	A	0.09%
	HBAN	A	0.09%
	CBOE	B	0.09%
	YUM	B	0.09%
	ES	D	0.09%
	AEE	A	0.09%
	FCNCA	A	0.09%
	SQ	B	0.09%
	APO	B	0.08%
	PFG	D	0.08%
	CFG	B	0.08%
	INVH	D	0.08%
	BBY	D	0.08%
	ZM	B	0.08%
	WBD	C	0.08%
	NTRS	A	0.08%
	EQT	B	0.08%
	CMS	C	0.08%
	TDY	B	0.08%
	K	A	0.08%
	UTHR	C	0.07%
	RS	B	0.07%
	SUI	D	0.07%
	WSO	A	0.07%
	TSN	B	0.07%
	CSL	C	0.07%
	WRB	A	0.07%
	CVNA	B	0.07%
	J	F	0.07%
	MRNA	F	0.07%
	DG	F	0.07%
	MAA	B	0.07%
	MAS	D	0.07%
	CTRA	B	0.07%
	ESS	B	0.07%
	BAX	D	0.07%
	BALL	D	0.07%
	MSCI	C	0.07%
	TRU	D	0.07%
	CNP	B	0.07%
	VTRS	A	0.06%
	CAG	D	0.06%
	UDR	B	0.06%
	RGA	A	0.06%
	BRO	B	0.06%
	VRSN	F	0.06%
	SWKS	F	0.06%
	NDSN	B	0.06%
	USFD	A	0.06%
	L	A	0.06%
	SYY	B	0.06%
	ZTS	D	0.06%
	ACM	A	0.06%
	THC	D	0.06%
	TOL	B	0.06%
	TXT	D	0.06%
	SSNC	B	0.06%
	MKL	A	0.06%
	AVTR	F	0.06%
	OC	A	0.06%
	LNT	A	0.06%
	IRM	D	0.06%
	RBA	A	0.06%
	HOOD	B	0.06%
	FNF	B	0.06%
	KIM	A	0.06%
	DOC	D	0.06%
	NI	A	0.06%
	GEN	B	0.06%
	KEY	B	0.06%
	AMCR	D	0.06%
	IBKR	A	0.06%
	FTI	A	0.05%
	ITT	A	0.05%
	SCI	B	0.05%
	AES	F	0.05%
	SJM	D	0.05%
	CLH	B	0.05%
	UHS	D	0.05%
	UNM	A	0.05%
	AMH	D	0.05%
	CHRW	C	0.05%
	CPT	B	0.05%
	HST	C	0.05%
	WPC	D	0.05%
	CASY	A	0.05%
	CACI	D	0.05%
	ALLE	D	0.05%
	COHR	B	0.05%
	EMN	D	0.05%
	NVT	B	0.05%
	JBL	B	0.05%
	RPM	A	0.05%
	EME	C	0.05%
	CDW	F	0.05%
	BXP	D	0.05%
	EG	C	0.05%
	ELS	C	0.05%
	GLPI	C	0.05%
	CW	B	0.05%
	JKHY	D	0.05%
	RNR	C	0.05%
	EVRG	A	0.05%
	EWBC	A	0.05%
	GGG	B	0.05%
	DTM	B	0.04%
	FYBR	D	0.04%
	DCI	B	0.04%
	BWXT	B	0.04%
	WBS	A	0.04%
	JLL	D	0.04%
	HRL	D	0.04%
	TW	A	0.04%
	WAL	B	0.04%
	CPB	D	0.04%
	NYT	C	0.04%
	HSIC	B	0.04%
	DRI	B	0.04%
	LAD	A	0.04%
	AOS	F	0.04%
	WYNN	D	0.04%
	FRT	B	0.04%
	FTNT	C	0.04%
	CIEN	B	0.04%
	MTCH	D	0.04%
	REXR	F	0.04%
	AFG	A	0.04%
	AYI	B	0.04%
	ALSN	B	0.04%
	GL	B	0.04%
	DPZ	C	0.04%
	QGEN	D	0.04%
	FHN	A	0.04%
	EVR	B	0.04%
	BKNG	A	0.04%
	TAP	C	0.04%
	DAY	B	0.04%
	PRI	A	0.04%
	RGLD	C	0.04%
	FOXA	B	0.04%
	SOFI	A	0.04%
	WTRG	B	0.04%
	CNH	C	0.04%
	EPAM	C	0.04%
	EHC	B	0.04%
	WWD	B	0.04%
	ARMK	B	0.04%
	DKS	C	0.04%
	AIZ	A	0.04%
	PNW	B	0.04%
	AA	B	0.04%
	SOLV	C	0.04%
	DOX	D	0.04%
	AFRM	B	0.04%
	TTEK	F	0.04%
	CE	F	0.04%
	FBIN	D	0.04%
	BLD	D	0.04%
	SF	B	0.04%
	OVV	B	0.04%
	AVY	D	0.04%
	OHI	C	0.04%
	RPRX	D	0.04%
	KMX	B	0.04%
	CTLT	B	0.04%
	PFGC	B	0.04%
	MKTX	D	0.04%
	CUBE	D	0.04%
	NTNX	A	0.04%
	TPR	B	0.04%
	TWLO	A	0.04%
	CCK	C	0.04%
	CG	A	0.04%
	INCY	C	0.04%
	RRX	B	0.04%
	NRG	B	0.04%
	ATR	B	0.04%
	FDS	B	0.04%
	BJ	A	0.04%
	LSTR	D	0.03%
	MKSI	C	0.03%
	ARW	D	0.03%
	MTSI	B	0.03%
	IVZ	B	0.03%
	WEX	D	0.03%
	XP	F	0.03%
	BBWI	D	0.03%
	FAF	A	0.03%
	RGEN	D	0.03%
	MTG	C	0.03%
	ATI	D	0.03%
	SIRI	C	0.03%
	WMS	D	0.03%
	BFAM	D	0.03%
	CGNX	C	0.03%
	PB	A	0.03%
	PARA	C	0.03%
	OSK	B	0.03%
	KEX	C	0.03%
	HRB	D	0.03%
	G	B	0.03%
	STAG	F	0.03%
	JAZZ	B	0.03%
	COKE	C	0.03%
	RHI	B	0.03%
	FCN	D	0.03%
	MAT	D	0.03%
	AGNC	D	0.03%
	ROKU	D	0.03%
	FND	C	0.03%
	MIDD	C	0.03%
	SSD	D	0.03%
	MOH	F	0.03%
	DASH	A	0.03%
	FR	C	0.03%
	FLS	B	0.03%
	BIO	D	0.03%
	ESAB	B	0.03%
	WSM	B	0.03%
	GNTX	C	0.03%
	PR	B	0.03%
	MHK	D	0.03%
	GXO	B	0.03%
	LBRDK	C	0.03%
	FICO	B	0.03%
	RRC	B	0.03%
	SNV	B	0.03%
	CHE	D	0.03%
	ONTO	D	0.03%
	VFC	C	0.03%
	Z	A	0.03%
	VNO	B	0.03%
	HII	D	0.03%
	COLD	D	0.03%
	ADC	B	0.03%
	SKX	D	0.03%
	SAIC	F	0.03%
	SEIC	B	0.03%
	WAT	B	0.03%
	CBSH	A	0.03%
	CFR	B	0.03%
	ZION	B	0.03%
	SHW	A	0.03%
	AR	B	0.03%
	WTFC	A	0.03%
	MNST	C	0.03%
	ACI	C	0.03%
	LW	C	0.03%
	BWA	D	0.03%
	EXAS	D	0.03%
	LECO	B	0.03%
	CR	A	0.03%
	MTZ	B	0.03%
	CHRD	D	0.03%
	APG	B	0.03%
	NNN	D	0.03%
	RL	B	0.03%
	RBC	A	0.03%
	TKO	B	0.03%
	OGE	B	0.03%
	PNFP	B	0.03%
	JEF	A	0.03%
	BERY	B	0.03%
	BRX	A	0.03%
	FMC	D	0.03%
	ECL	D	0.03%
	VOYA	B	0.03%
	CRBG	B	0.03%
	KNX	B	0.03%
	AAL	B	0.03%
	KBR	F	0.03%
	HLI	B	0.03%
	GMED	A	0.03%
	EGP	F	0.03%
	RIVN	F	0.03%
	ALLY	C	0.03%
	GWRE	A	0.03%
	GME	C	0.03%
	AXTA	A	0.03%
	WCC	B	0.03%
	GPK	C	0.03%
	TTC	D	0.03%
	CMA	A	0.03%
	APA	D	0.03%
	MGM	D	0.03%
	MOS	F	0.03%
	BRBR	A	0.03%
	LAMR	D	0.03%
	CZR	F	0.03%
	ORI	A	0.03%
	X	C	0.03%
	SNX	C	0.03%
	INGR	B	0.03%
	ALNY	D	0.02%
	KMPR	B	0.02%
	MSGS	A	0.02%
	RH	B	0.02%
	HOG	D	0.02%
	ACHC	F	0.02%
	AN	C	0.02%
	SITE	D	0.02%
	PAYC	B	0.02%
	GTES	A	0.02%
	W	F	0.02%
	AWI	A	0.02%
	CLF	F	0.02%
	FLO	D	0.02%
	UHAL	D	0.02%
	OLED	D	0.02%
	GAP	C	0.02%
	M	D	0.02%
	FRPT	B	0.02%
	ASH	D	0.02%
	EEFT	B	0.02%
	SLGN	A	0.02%
	LITE	B	0.02%
	DLB	B	0.02%
	TPG	A	0.02%
	DBX	B	0.02%
	AGO	B	0.02%
	WSC	D	0.02%
	AZO	C	0.02%
	WTM	A	0.02%
	BILL	A	0.02%
	AMP	A	0.02%
	RYN	D	0.02%
	OZK	B	0.02%
	XRAY	F	0.02%
	AL	B	0.02%
	CUZ	B	0.02%
	KRC	C	0.02%
	DOCS	C	0.02%
	SLM	A	0.02%
	BYD	C	0.02%
	HXL	D	0.02%
	OLN	D	0.02%
	AVT	C	0.02%
	OGN	D	0.02%
	SN	D	0.02%
	ROIV	C	0.02%
	PSN	D	0.02%
	GNRC	B	0.02%
	SEE	C	0.02%
	UGI	A	0.02%
	ZG	A	0.02%
	ORLY	B	0.02%
	SON	D	0.02%
	ST	F	0.02%
	FNB	A	0.02%
	FOX	A	0.02%
	KD	B	0.02%
	IDA	A	0.02%
	CROX	D	0.02%
	THO	B	0.02%
	THG	A	0.02%
	JHG	A	0.02%
	TKR	D	0.02%
	POST	C	0.02%
	SAIA	B	0.02%
	BC	C	0.02%
	LEA	D	0.02%
	PVH	C	0.02%
	H	B	0.02%
	WHR	B	0.02%
	NFG	A	0.02%
	OMF	A	0.02%
	OLLI	D	0.02%
	MTDR	B	0.02%
	BPOP	B	0.02%
	COIN	C	0.02%
	SRCL	C	0.02%
	VNT	B	0.02%
	MDU	D	0.02%
	CRUS	D	0.02%
	LNC	B	0.02%
	BEN	C	0.02%
	S	B	0.02%
	COLB	A	0.02%
	LFUS	F	0.02%
	ALK	C	0.02%
	ESI	A	0.02%
	AXS	A	0.02%
	DINO	D	0.02%
	RLI	B	0.02%
	AMG	B	0.02%
	NOV	C	0.02%
	MSA	D	0.02%
	STWD	C	0.02%
	WH	B	0.02%
	DAR	C	0.02%
	VMI	B	0.02%
	ELAN	D	0.02%
	AGCO	D	0.02%
	R	B	0.02%
	UA	C	0.01%
	SNDR	B	0.01%
	FTRE	D	0.01%
	GO	C	0.01%
	LYFT	C	0.01%
	REYN	D	0.01%
	EXEL	B	0.01%
	LEG	F	0.01%
	TRIP	F	0.01%
	WOLF	F	0.01%
	WEN	D	0.01%
	INFA	D	0.01%
	VSTS	C	0.01%
	BIRK	D	0.01%
	PPC	C	0.01%
	QS	F	0.01%
	UAA	C	0.01%
	AZEK	A	0.01%
	LPX	B	0.01%
	CRI	D	0.01%
	PSTG	D	0.01%
	PINC	B	0.01%
	CNXC	F	0.01%
	KSS	F	0.01%
	SAM	C	0.01%
	ETSY	D	0.01%
	YETI	C	0.01%
	AAP	C	0.01%
	AZTA	D	0.01%
	BR	A	0.01%
	BROS	B	0.01%
	LCID	F	0.01%
	GLOB	B	0.01%
	IPGP	D	0.01%
	RKT	F	0.01%
	RCM	F	0.01%
	BRKR	D	0.01%
	ENOV	C	0.01%
	CPRI	F	0.01%
	JWN	C	0.01%
	ADTN	A	0.01%
	EXP	A	0.01%
	HAYW	B	0.01%
	BOKF	B	0.01%
	MP	B	0.01%
	SHC	F	0.01%
	HHH	B	0.01%
	SPB	C	0.01%
	CWEN	C	0.01%
	CC	C	0.01%
	VIRT	B	0.01%
	ALGM	D	0.01%
	CXT	B	0.01%
	VAC	B	0.01%
	CLVT	F	0.01%
	COLM	B	0.01%
	LOPE	B	0.01%
	MPW	F	0.01%
	PAG	B	0.01%
	COTY	F	0.01%
	AMKR	D	0.01%
	PK	B	0.01%
	NSA	D	0.01%
	CNM	D	0.01%
	BHF	B	0.01%
	MAN	D	0.01%
	MASI	A	0.01%
	PENN	C	0.01%
	WU	D	0.01%
	AM	A	0.01%
	AMED	F	0.01%
	CPRT	A	0.01%
	IRDM	D	0.01%
	PLNT	A	0.01%
	FHB	A	0.01%
	TNL	A	0.01%
	SPR	D	0.01%
	U	C	0.01%
	NXST	C	0.01%
	EPR	D	0.01%
	ZI	D	0.01%
	PRGO	B	0.01%
	HIW	D	0.01%
	CIVI	D	0.01%
	DXC	B	0.01%
	IAC	D	0.01%
	NEU	C	0.01%
	PII	D	0.01%
	MSM	C	0.01%
	NVST	B	0.01%
	DNB	B	0.01%
	HUN	F	0.01%
	NWL	B	0.01%
	SMG	D	0.01%
	UHAL	D	0.0%
	UWMC	D	0.0%
	SEG	B	0.0%
	NFE	D	0.0%
	IONS	F	0.0%
	TXG	F	0.0%
	PLTK	B	0.0%
	CHH	A	0.0%
	CACC	D	0.0%
	UI	A	0.0%
	TFSL	A	0.0%
	LBRDA	C	0.0%
	SEB	F	0.0%
	PATH	C	0.0%
	CWEN	C	0.0%
	DJT	C	0.0%
	CAR	C	0.0%
	LSCC	D	0.0%
	PYCR	C	0.0%
	MTN	C	0.0%
	HCP	B	0.0%
	FIVE	F	0.0%
	CNA	B	0.0%
	DV	C	0.0%
	DDS	B	0.0%
	HAS	D	0.0%
	NCNO	B	0.0%
	CERT	F	0.0%

VONV Underweight 34 Positions Relative to HLAL

	Symbol	Grade	Weight
	AAPL	C	-14.91%
	MSFT	F	-13.84%
	META	D	-5.55%
	GOOGL	C	-4.63%
	TSLA	B	-4.25%
	GOOG	C	-3.91%
	MRK	F	-1.11%
	ADBE	C	-0.98%
	NOW	A	-0.92%
	ISRG	A	-0.85%
	UBER	D	-0.62%
	PANW	C	-0.54%
	LRCX	F	-0.41%
	SNPS	B	-0.37%
	KLAC	D	-0.37%
	CDNS	B	-0.37%
	ADSK	A	-0.3%
	NXPI	D	-0.25%
	VRT	B	-0.22%
	AXON	A	-0.2%
	ODFL	B	-0.19%
	COR	B	-0.18%
	LULU	C	-0.17%
	IT	C	-0.17%
	IDXX	F	-0.15%
	TSCO	D	-0.13%
	BURL	A	-0.08%
	PODD	C	-0.08%
	FLEX	A	-0.07%
	ICLR	D	-0.07%
	SMCI	F	-0.06%
	POOL	C	-0.06%
	ROL	B	-0.06%
	SCCO	F	-0.04%

VONV: Top Represented Industries & Keywords

Industries: Diversified Industrials Banks - Regional - US Utilities - Regulated Electric Software - Application Asset Management Oil & Gas E&P Business Services Semiconductors Biotechnology Diagnostics & Research Specialty Retail Capital Markets Packaged Foods Specialty Chemicals Information Technology Services Insurance - Property & Casualty Packaging & Containers Aerospace & Defense Software - Infrastructure REIT - Residential

Keywords: S&P 500 Nasdaq 100 Natural Gas Insurance Bank Electronics Banking Computing Real Estate Investment Trust Chemical Aerospace Electricity Mining Telecommunications Insurance Products Semiconductor Biotechnology Dow Jones Component Beverage Medicine

HLAL: Top Represented Industries & Keywords

Industries: Software - Application Diversified Industrials Diagnostics & Research Semiconductors Medical Devices Medical Instruments & Supplies Oil & Gas E&P Specialty Chemicals Drug Manufacturers - Major Household & Personal Products Integrated Shipping & Logistics Semiconductor Equipment & Materials Specialty Retail Airlines Apparel Stores Biotechnology Building Materials Business Services Chemicals Internet Content & Information

Keywords: S&P 500 Nasdaq 100 Computing Medicine Natural Gas Integrated Circuits Semiconductor Dow Jones Component Chemical Electronics Mining Petroleum Industry Aerospace Oil And Gas Biotechnology Building Materials Mobile Devices Plastic Transport Acid